Fair Trade Strata Hub
The Strata Hub is an initiative of the NSW Government to provide better transparency, accountability, better regulation and more engagement for owners and residents of strata schemes in NSW.
The hub will allow for key information to be accessible to schemes, service providers and the government, which will allow for better visibility of a strata schemes statutory requirements to help ensure well managed schemes.
The strata scheme’s secretary or chairperson is required to submit the information. The reporting can also be delegated to the strata manager.
Some of the information that needs to be completed each year:
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Strata plan number and address
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Registration date
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Number of lots in the strata scheme
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Contact details of the chairperson, secretary, strata manager (if any) and building manager (if any).
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Nominated strata scheme contact for emergency services.
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Date of issue for interim or final occupation certificate
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If there is a strata renewal committee, the date it was established
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Number of lots used for the following purposes: residential, retirement village, commercial, utility lot and other purposes
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Number of storeys (in multi-level residential apartment buildings).
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Last AGM date
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Date annual fire safety statement issued
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Current insured replacement value of building
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Reported balance of capital works fund from the last financial statements at the AGM.
SUPPLYING THE CORRECT INFORMATION
Under clause 43B, there is an obligation to correct or update information already provided. The correction must be submitted within 28 days after the secretary or managing agent becomes aware of the circumstances necessitating this. This requirement will be enforced by fines of up to $2,200.
ENFORCEMENT AND PENALTIES
Penalties for noncompliance apply for providing incorrect information (up to $220) and for not providing the information initially (up to $5,000).